Loading chat...
NY A05070
Bill
Status
2/12/2025
Primary Sponsor
Kwani O'Pharrow
Click for details
AI Summary
-
Establishes a 10-member real estate appraiser task force convened by the Commissioner of Taxation and Finance to investigate misevaluation and racial bias in property appraisals
-
Task force members appointed by the Governor (2), Senate Majority Leader (2), Assembly Speaker (2), Senate Minority Leader (1), Assembly Minority Leader (1), Attorney General (1), and Department of State (1)
-
Requires the task force to study racial disparities in appraisals, strengthen anti-discrimination guardrails, improve data collection, and evaluate barriers preventing minorities from entering the appraisal profession
-
Mandates anti-bias, fair housing, and fair lending training for all appraisers, along with training for housing counselors to assist potential victims of appraisal bias
-
Task force must meet quarterly, submit an initial report within 12 months, followed by yearly reports; the act expires 2 years after taking effect
Legislative Description
Provides that the commissioner of taxation and finance shall convene a ten member real estate appraiser task force to investigate and identify the misevaluation of the asset of this category of professionals and develop ways to overcome the biased behavior; makes related provisions.
Last Action
referred to real property taxation
1/7/2026